Why Affordable Housing Pays Off for Santa Monica

04 Nov Why Affordable Housing Pays Off for Santa Monica

I am happy to introduce myself to Santa Monica as the new Executive Director of Community Corp., which is a non-profit organization established in the city in 1982 that provides affordable housing to more than 4,000 Santa Monica residents. For close to two decades, I have worked across Southern California in the field of affordable housing, witnessing up close how these investments not only benefit the individuals and families that secure a place to call home, but also enrich the entire community.

In recent years, Santa Monica has witnessed a rapid rise in the cost of housing, which has put a strain on families and raised serious concerns about the future of the community. In 2015 alone, rents increased by 17 percent, with the median price of a one-bedroom apartment in the city now exceeding $3,000. Longtime residents face displacement. Working men and women who carry out critical jobs in Santa Monica — like nurses, teachers and firefighters — are often forced to contend with lengthy commutes because of the city’s prohibitively expensive housing.